To play, you need two sets of pieces: hippos labeled with words containing the letter combinations sh, th, ch, ph, and wh and hats labeled with those same letter combinations. The object is to match each hippo to the correct hat based on which digraph the word contains. I color-coded the hats to make it a little bit easier to tell the digraphs apart, but the hippos all look the same.
Here is a hippo labeled with the word "when," who gets a "wh" hat.
This hippo's face reads "phone" so he gets a green "ph" hat.
This hippo's word is "chat", so she's wearing a red "ch" hat.
If I were sharing this at story time, I'd have the piles of hats set out where the kids could see them and I'd show the kids one hippo at a time. Depending on the size of the group, I might let the kids choose a hippo from a basket or bag to get them more engaged. If I trusted the pieces not to disappear, I'd also love to set this up as a station for kids to play with on their own outside of a formal story time setting. Though this version of the game is designed for beginning readers up to age 8, it would be easy to simplify for a preschool audience. Instead of matching words to the digraphs they could contain, kids could match words to their first letter, or even uppercase letters to their lowercase counterparts.